Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (73502)	5/14/2010 6:44:35 AM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

Indeed, hordes of people bought into the ridiculous slogans "Property prices always go up", "Be in to win", and were not thinking. Same for commercial property. So they lost their shirts. That doesn't mean the minor mistake Alan Green$pan KBE made were the cause or even a significant contributory cause. Of course, leaving low interest rates lying around was like leaving crates of free beer lying around in the presence of an alcoholic. But the leaving of the booze doesn't create the alcoholic. The person responsible for taking great swigs of debt is the debtor. The creditors are also participant and partly responsible if they don't want to lose their money. But the inventor of the means of exchange they use is not responsbile. Mqurice

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